Venture capitalist faces legal hurdles by bidding for site, which has been shut down for more than a year following Hulk Hogan lawsuit he bankrolled

Venture capitalist Peter Thiel has made an offer for Gawker, hoping to overcome legal hurdles and rival bidders for the site whose collapse the billionaire helped precipitate last year, people familiar with the matter said on Thursday.

Gawker’s news site has been inactive for more than a year, after it was shut down following a massive lawsuit against it by wrestling star Hulk Hogan, which Thiel bankrolled. In 2007, Gawker revealed Thiel was gay.